Hi
Been in a iva now since aug 08,We had car finance which is included in our Iva .are you allowed to sell your car no as the finance wasn't secured on car,only asking as we are havin endless trouble with car it is costing alot of money to run.Many thanks
There is no problem selling the car and buying another provided it does not impact on your IVA payments. If you require additional finance you will need the IP's consent and if you buy a vehicle for less the profit is a windfall but if it is a de facto swap of vehicles a quick call should be made to the case manager telling what you are going to do. They may ask for evidence that the new vehicle is not cheaper than the old one or required finance.
